Lot of profit taking and trading games.
Market sentiment also volatile, but let's not lose focus and recap on a few important points..
ASIC investigation all clear - we may very well have the cleanest books on the ASX, this weakens any potential class actions.
Bank syndicate support on debt restructure, strong support to execute performance program and a clear endorsement of the company. - banking syndicate know about potential class actions, this obviously didn't impact their decision.
Bryce Houghton onboard (ace card) and improvement performance plan started aimed to improve profitability, cashflow and reduce debt
H1 figures kitchen sinked, and figures are heavily weighted to h2
We have a commanding market share in AU and now also in UK.
Increased Opposition to Osbornes proposals - you guys remember when that uk proposal announcement came out that day? PROPOSAL is what it was.
Minimal sites closed with increased non essential roles advertised daily. Check seek or reed.
Please Don't forget a lot of institutions probably just waiting to buy in... And management also can't add to holdings until trading window open.
The list goes on...
Only a matter of time before she surges upwards.
So everyone just chill out....
SGH Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
